HERMÈS - 2018 Registration document

6

Parent company financial statements

Notes to the financial statements

18.2 Analysis of currency agreements

Hedging operations areperformedover-the-counter, exclusivelywith leading banks. TheCompany thereforedoes not incur any significant counterparty risk.

Nominal amounts of derivatives used to hedge foreign exchange risk

Market value of the contracts as at 31/12/2018 1

Nominal amounts of derivatives

In millions of euros

Options purchased Japanese yen put Japanese yen collar

28.9

28.9

0.4

201.1 128.8 (62.6) 123.2

201.1

(0.5)

US dollar put Calls US dollar US dollar collar Chinese yuan put Chinese yuan collar Singapore dollar put Singapore dollar collar Hong Kong dollar put Calls Hong Kong dollar Hong Kong dollar collar

35.5

1.1 1.0 1.7 0.8 4.0 0.3 1.0 0.6 0.6 0.9 6.0 5.8 4.6 3.3 2.0

123.2

15.2

15.2

167.6

167.6

20.0

20.0

140.3

140.3

83.7

23.5

(40.3)

82.0

82.0

887.9

837.3

12.0

Forward currency agreements 2 Yen

(164.5) (153.6) (152.8) (101.8) (116.5)

(164.5) (153.6) (152.8) (101.8) (116.5)

Singapore dollar

US dollar

Hong Kong dollar

Yuan

Swiss franc Brazilian real Pound sterling Australian dollar Canadian dollar

7.4 3.6 2.3 1.2 1.2 0.3 0.5

7.6 3.6 2.3 1.2 1.2 0.3 0.5

(0.2) (0.2)

0.0 0.0

(0.0)

Rouble

0.0

Other

(0.1) 21.1

(672.8)

(672.6)

Currency swaps 2 US dollar Pound sterling Yen

(268.8)

(273.2)

(1.5)

(16.2)

(21.2)

0.1 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0

Yuan

7.6 5.9 5.5 4.7 4.0 3.6 1.6 0.6 0.6 0.2

7.6 5.9

Danish krone

Singapore dollar

(0.7)

Swiss franc

0.5 3.6 2.7 0.9 0.3 0.6 2.1

Yen

(0.1)

Australian dollar Hong Kong dollar

Rouble

Canadian dollar

Other

(0.0) (1.3)

(250.5)

(271.1)

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2018 REGISTRATION DOCUMENT HERMÈS INTERNATIONAL